The importance of Business Continuity Planning
Let us consider some interesting, but worrying, statistics:
- The floods of summer 2007 are believed to have affected in excess of 27,500 households and 7,000 businesses. The estimated insurance costs are anywhere between £2 billion and £5 billion. Let's not forget that companies not directly affected by flooding are still suffering the knock-on effect - for example, by their suppliers not being able to deliver goods on time.
- In a magazine survey, 75% of respondents said that they felt that they did not have an effective Business Continuity Plan (BCP) in place. (Source - Caterer & Hotelkeeper, 2-8 August 2007)
- 80% of businesses fail within the 12 months following a major loss (eg: fire, flood, etc) due to the lack of a Disaster Recovery Plan.
So, why do so few organisations have a BCP?
MasterPolicy are aware that some people are put off setting up a Continuity Plan because the process itself seems so daunting and complicated. That is where we can help!
As a Broker Network member, we can use RAS Business Continuity Planning software to produce a comprehensive scheme. This thorough process will provide you with:
- An emergency contact list to help maintain your business functions
- Advice on safeguarding essentials, eg: contracts, computer data, etc
- A guide to roles and duties - who is going to be doing what
- A SWOT analysis highlighting potential problems and risks
- How to set up a "battle box" as an invaluable and secure source of information
- Contingency plans covering your organisation's key issues
- Microsoft Word document templates of procedures for a range of emergencies
If you would like a quotation, please contact our office to discuss your requirements or complete our enquiry form, and one of our team will be happy to assist you.